Allegation of N1b Bitcoin investment against Ado-Ekiti Poly Rector causes confusion


Allegation of N1billion Investment in Bitcon Investment against Federal Polytechnic Ado-Ekiti Rector, Dr. Hephzibah Oladebeye by the Academic Staff Union of Polythenics (ASUP) has brought confusion into the campus.

Dr Oladebeye described the allegation by some lecturers that he invested N1 billion on bitcoin online transaction as baseless and spurious.

Oladebeye said this in Ado-Ekiti, yesterday, while reacting to the disruption of ongoing second semester examinations over non-payment of part-time claims by protesting Academic Staff Union of Polytechnics (ASUP).

During the protest on Tuesday, the ASUP Chairman, Dr. Olabisi Olasehinde, accused the Rector of investing N1 billion on Bitcoin business, being money allegedly earmarked to defray the part-time claims.

But condemning the protest, the Rector said: “Article 23.1 of the civil service rule that guides ASUP stipulates that before academic staff can proceed on a protest, they must declare industrial dispute and give the management 21 days ultimatum, followed by another seven days.

“Protesting when such provision was not followed was a gross misconduct according to civil service rule. I knew they were out to disparage my person and this was no longer protest but hooliganism.

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“But let me say this, administrative processes are being put in place to handle the issue. If they have not gone to the gate to advertise themselves, it could have been a different thing. No responsible management will fold its arms and allow that to go unchecked.”

Oladebeye, who described the allegation of investment of N1 billion on Bitcoin as cheap blackmail, said it was wrong for the lecturers to be inciting members of staff against the management to satisfy their political interest.

Meanwhile, the alumni of the polytechnic have appealed to ASUP to co-operate with the Rector in developing the institution, saying resorting to blackmail over an issue that could be resolved amicably would affect the school’s rating.

The National President, Alumni Association, Abiodun Oyedokun, said the Rector had done excellently well in the areas of staff welfare, like promotion, loans and payment of allowances.”

“The part-time claim is not for our lecturers alone. Some of the lecturers were from other schools. ASUP must have pity on the students who are running out of cash and food on campus. We don’t want the public to perceive this institution as unserious, which can affect our ranking.

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“The Rector cannot embezzle. He is a man of impeccable pedigree. The alumni are not happy about the allegation. The institution is one to be reckoned with globally and this crisis is not good for our rating.

“We appeal to ASUP to stop creating tension and making this institution to look as if we are in a turmoil. We will try our best to mediate and restore stability, but we won’t allow the image of the institution to be soiled by those fighting personal battles.”

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